7 CFR 770.5 - Loan limitations.
(a) Loan funds may not be used for any land improvement or development purposes, acquisition or repair of buildings or personal property, payment of operating costs, payment of finder's fees, or similar costs, or for any purpose that will contribute to excessive erosion of highly erodible land or to the conversion of wetlands to produce an agriculture commodity as further established in exhibit M to subpart G ofpart 1940 of this title.
(b) The amount of loan funds used to acquire land may not exceed the market value of the land (excluding the value of any improvements) as determined by a current appraisal.
(c) Loan funds for a land purchase must be disbursed over a period not to exceed 24 months from the date of loan approval.
Title 7 published on 2015-01-01.
No entries appear in the Federal Register after this date, for 7 CFR Part 770.